MAINTAIN PROJECT BUDGET SETTINGS

Use this screen to establish global settings that will affect the creation and maintenance of both baseline and workplan budgets throughout Costpoint Advanced Project Budgeting. Because these settings affect the entire module, use the screen rights function (the Maintain User Override Rights screen (Others » System Administration » System Security)) to restrict user access to this screen.

Use this screen when initializing Costpoint Advanced Project Budgeting, when making major changes to the way your project budgets are maintained, or when preparing the final version of your project budgets.

Update Baseline Budget with Approved COs

If you select this check box, the system will update your baseline budget as change orders are approved in the Enter Change Orders screen (Projects » Project Setup » Project Master).

You must select this check box to update the baseline budget after it is final and locked in.

Update Workplan Budget with Approved COs

If you select this check box, the system will update your workplan budget as change orders are approved in the Enter Change Orders screen (Projects » Project Setup » Project Master). You can revise the workplan budget as often as necessary when you select the Allow Workplan Budgets check box in this screen.

Budget Using Ref # and Ref Name

Select this check box if you want your project budgets, both baseline and workplan, to use reference numbers, also known as cost codes, throughout Costpoint Advanced Project Budgeting. If you do not select this check box, the reference number and reference name columns will not appear in Costpoint Advanced Project Budgeting screens.  Selecting this check box will not make reference numbers required in Costpoint Advanced Project Budgeting. The check box will only make the reference number column available in the Maintain Project Budgets and ETC screen.

Allow Workplan Budgets

Select this check box if you want your project's workplan budget to have multiple revisions, with each version assigned a different revision. Once you create a revision of a workplan budget, you cannot clear this check box.

Enable Indirect Subtask

Select this check box to enable the Indirect subtask of the Maintain Project Budgets and ETC screen (Projects » Advanced Project Budgeting » Project Budget and ETC Master). You will most frequently use this non-editable subtask for those projects that need to comply with the U.S. government contracts. This check box is selected by default.

Freeze on Save Baseline Budget

Select this check box before entering your project's baseline budget to freeze the budget and allow no further revisions. Once you have frozen the budget, only approved change orders will update your baseline if you selected the Update Baseline Budget with Approved COs check box. You can copy this baseline budget as a workplan budget in the Maintain Project Budgets and ETC screen (Projects » Advanced Project Budgeting » Project Budget and ETC Master) to generate alternate forecasts. You can freeze budgets on an individual project basis in the Project Budget Information subtask of the Maintain Project Budgets and ETC screen.

Freeze on Save Workplan Budget

Select this check box before entering your project's workplan budget to freeze the budget and allow no further revisions. Once you have frozen the budget, only approved change orders will update your workplan if you selected the Update Workplan Budget with Approved COs check box. You can freeze budgets on an individual project basis in the Project Budget Information subtask of the Maintain Project Budgets and ETC screen (Projects » Advanced Project Budgeting » Project Budget and ETC Master).

Spread Budgets Based on Days

Select this check box to allow budget spreading based on days in a period. You can define the number of days per period in the Maintain Period Days screen (Projects » Advanced Project Budgeting » Controls). This is a system-wide selection.

Allow Incurred to Exceed LREAC

Select this check box to allow incurred amounts in excess of the Latest Revised Estimate at Completion (LREAC). If you select this check box, Costpoint will allow the ETC to be negative and the percent complete amount to be over 100%.  If you do not select this check box, the system will automatically update the LREAC to the incurred amount to date. The ETC amount will be zero and the percent complete will be 100%.

Undistributed Budget Account

Enter, or use to select, the account to record undistributed budget amounts. Use this to capture a reserve or contingency amount; this is the difference between the contract amount in projects and the amount budgeted.